Managing the Smiley Face Scale Used by Booking.com in an Ordinal Way
نویسندگان
چکیده
Contrary to the traditional economic prediction that prices decrease as more firms enter market, this paper finds a non-monotonic relationship between number of and in online book markets. A substantial posted is observed when market moves from monopoly duopoly. Surprisingly, further expands, converge price rather than competitive price. This because sellers increase on internet, cost for consumers obtain accurate information well evaluate products increase. Thus, existence large deter consumer search lead random purchases. With little search, sellersâ returns undercutting reduce. Therefore, instead lowering faced with competitors, prices.
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ژورنال
عنوان ژورنال: Journal of Theoretical and Applied Electronic Commerce Research
سال: 2021
ISSN: ['0718-1876']
DOI: https://doi.org/10.4067/s0718-18762021000200110